GTT: Berenberg upgrades stock

(CercleFinance.com) - Berenberg has upgraded GTT shares to 'buy', with a target price raised to E155, following 'solid' H1 results, including a record order book due to new order figures exceeding its expectations.


Despite this, the share price has fallen by 17% from its March peak, due to the broader sell-off in the equity market, the broker points out, which therefore considers this decline exaggerated, given GTT's solid fundamentals.

For the engineering company Berenberg thus highlights strong visibility on future sales, a positive outlook for order intake and a generous payout policy to shareholders.


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